Wednesday, January 27, 2010

Breaking News-RTRS-China soy crushing margins fall as pig disease spreads

BEIJING, Jan 26 (Reuters) - China's soy plants' crushing margins fell to breakeven or negative for the first time in months amid large imports and low feed demand after frequent outbreaks of pig disease this month, traders said on Tuesday.

Breaking News-RTRS-UPDATE 1-Indonesia 2010 palm oil exports seen rising 16 pct

JAKARTA, Jan 26 (Reuters) - Indonesia sees its palm oil exports climbing 16 percent this year on strong market prices, following a 12 percent rise last year as the world's largest exporter looks to tap demand from India and China.

Breaking News-RTRS-Soybean prices to fall as big crop looms-Oil World

HAMBURG, Jan 26 (Reuters) - A large upcoming global soybean crop, especially in South America, is set to reduce soybean and soymeal prices in coming months, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.

Breaking News-RTRS-UPDATE 7-Obama to address voter fears in State of Union

WASHINGTON, Jan 25 (Reuters) - President Barack Obama, concerned by voter anxiety over high unemployment, said on Monday he would use his State of the Union speech on Wednesday to reassure Americans worried about jobs and the economy.

Trader's Highlight

DJI-NEW YORK, Jan 26 (Reuters) - U.S. stocks slipped late on Tuesday due to trepidation over churning political and regulatory developments, offsetting solid earnings and improved consumer confidence data.

Gains faded late as investors turned cautious before the Federal Reserve's policy announcement and President Barack Obama's State of the Union address on Wednesday night.

NYMEX-NEW YORK, Jan 26 (Reuters) - U.S. crude oil futures stayed lower in post-settlement trading on Tuesday despite industry data showing a surprise drawdown in crude inventories last week.

Heating oil futures pared losses as total distillate stocks fell below forecast, data from the American Petroleum Institute showed, even though its heating oil component was up slightly.

On the New York Mercantile Exchange at 5:10 p.m. EST (2210 GMT), March crude was down 65 cents at $74.61 a barrel. It had settled down 55 cents, or 0.73 percent, at $74.71, trading from $75.39 to $73.82, lowest since $72.72 was struck Dec. 22.

CBOT-CHICAGO, Jan 26 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - March up 7 cents at $9.47-1/2 a bushel. Rebounds from drop to 3-1/2 month low as traders cover short position

CBOT-SOYOIL - March up 0.27 cent at 36.77 cents per lb. Following turnaround in soybeans despite pressure from lower crude oil and firm dollar.

FCPO-KUALA LUMPUR,
Jan 26 (Reuters) - Malaysian crude palm oil futures tumbled 2.5 percent on Tuesday, along with other markets on concerns that top commodity buyer China may slow demand after some credit tightening measures came into effect.

Crude oil fell towards $74 a barrel and vegetable oil markets weakened after China's central bank told Chinese banks they needed to raise their reserve ratios.

REGIONAL EQUITIES-BANGKOK, Jan 26 (Reuters) - Singapore stocks fell to two-month lows on Tuesday, leading other Southeast Asian markets lower amid fears China could impose further measures to curb soaring loan growth, potentially dampening the global recovery.

The Straits Times Index <.FTSTI> ended down 2.5 percent at its lowest since Dec. 1, with Keppel Corp , the world's biggest offshore rig maker, sliding 1.6 percent even though it reported a 30 percent rise in fourth-quarter net profit.

Malaysia's index <.KLSE> fell 1.1 percent to its lowest since Jan. 5, Thailand's index <.SETI> eased 1.2 percent to the lowest since Dec. 14, and Indonesia's index <.JKSE> finished 0.8 percent lower, earlier falling to its lowest since Jan. 7.

FCPO Daily: Trying to defend at 2407 levels


Overall technical landscape weakened further following prices close at day low at 2407 (same as recent low on 21/1/2010). Thus, violation of the immediate support at 2407 levels likely to prompt more room to bias downside potential. As for now, we continue to look for the immediate support at 2400 followed by 2370-2360. While, upside resistance is pegged at 2458-2460 (gap left over on 26/1/2010) followed by 2490-2500.

DJI Daily: Surviving at 10,000 mark


Market has been falling down sharply and trying to defend at 10,000 underline support. Nevertheless, immediate daily technical outlook remains weak and look have room to move down further in near term market. Currently, we are looking for the upside resistance at 10,400 to 10,500. Downside support is lies at 10,000 followed by 9930 levels.

FKLI Daily: Losing ground


Market is losing ground after violated the immediate support at 1289 levels. A long black candle printed had dampened the immediate daily technical outlook to bias downside potential. As for now, we look at the upside resistance at 1295 to 1300. While, downside support is pegged at 1274-1272 (gap left over on 4/1/2010) followed by 1265-1250.